WEEK 8

TEST ON INTERNAL CONTROL

PRESENTS
PAMEL CAMILA CAMARGO RODRÍGUEZ ID: 387091

PRESENTED TO
FRANCISCO RIVELINO BERNAL CERQUERA

UNIVERSITY CORPORATION GOD'S MINUTE

UNIMINUTE
FACULTY OF BUSINESS
OCCUPATIONAL HEALTH ADMINISTRATION PROGRAM
AUDIT AND CONTROL ITERNO
NEIVA, HUILA NOVEMBER 2018
 INTRODUCTION

for many companies the audit will always be cataloged a stone in the shoe but it is the job
of each professional to present it as a fundamental tool for the identification of errors and
possible fraud that may arise in organizations, now the internal control allows analyzing
each movement made in accordance with the work plans established by the governmental
organizations in particular and the private ones
 OBJECTIVES

OVERALL OBJECTIVE
Prepare an argumentative text about the document presented by the professor in week eight
on audit and control or internal

SPECIFIC GOAL

 Analyze in detail the material of the platform and show the context to be treated
 Group the main ideas of what an inventory should contain
 Develop each of the points to achieve the main objective
 INTERNAL CONTROL AND AUDIT

For COSO (Committee of Treadway Sponsoring Organizations), internal control is a tool

that helps guarantee the execution of processes in an adequate and assertive manner,
internal control tells me in the following categories:

 Effectiveness and efficiency of operations.

 Reliability of financial information.
 Compliance with laws, regulations and standards that are applicable.

During this process there are rules that establish five fundamental elements for the proper
execution of the internal control process which are

 Control environment
 Risks evaluation.
 Control activities
 Information and documentation.
 Supervision

In addition to the above, it can be said that the benefits of implementing an internal control
in organizations are innumerable, but for the comptroller the main benefits are

 Reduce the risks of corruption

 Achieve the objectives and goals established
 Promote organizational development
 Achieve greater efficiency, effectiveness and transparency in operations
 Ensure compliance with the regulatory framework
 Protect the resources and assets of the State, and the proper use thereof
 Have reliable and timely information
 Promote the practice of values
  Promote the accountability of officials for the mission and objectives entrusted and
the use of the assets and resources assigned

The International Auditing Standard adapted for application in Spain ( NIA - ES 315 )
entitled " Identification and assessment of the risks of material misstatement through
knowledge of the entity and its environment " defines internal control as follows : about the
achievement of the entity ' s objectives regarding the reliability of the financial information,
the effectiveness and efficiency of operations, as well as compliance with As part of the
audit process, so - called compliance tests are carried out to verify that the control aims to
avoid and / or mitigate the risks of error, fraud and material misstatement In the compliance
tests, the auditor verifies that the designed If in this process any incidence of control
failures is detected, the auditor will evaluate if it should expand its tests, investigate the
cause of the
 Bibliografía

INTERNAL CONTROL AND AUDIT.pdf)